The Maldives Bureau of Statistics (MBS) has reported a slight easing in inflation in September 2025, with the national Consumer Price Index (CPI) recording a decline of 0.09 percent compared to August. This followed a 0.36 percent increase in the previous month, indicating a modest slowdown in price growth across most expenditure categories.
Year-on-year, prices across all groups rose by 3.87 percent, marking a small reduction from the 4.14 percent annual increase recorded in August. The moderation was mainly attributed to lower food and fish prices, which offset notable increases in electricity and fruit prices.
Food and beverages, including fish, fell by 0.9 percent month-on-month as key staples such as onions, carrots, limes, and potatoes saw sharp price declines. The price of reef fish dropped by 7 percent, while tuna fell by 2.46 percent, contributing to a 2.51 percent decline in the fish category. In contrast, the prices of fruits such as oranges and apples rose by 22.96 percent and 7.6 percent, respectively.
Electricity costs rose by 3.42 percent in September, making the housing, water, electricity, gas, and other fuels category one of the largest upward contributors. Other notable monthly increases were observed in fruits, personal care items, and air travel fares, while motorcycles and household appliances saw declines.
At a regional level, prices in Malé rose by 0.19 percent, while in the atolls, prices dropped by 0.51 percent, driven primarily by a sharper fall in food costs outside the capital. Over the past year, inflation stood at 3.25 percent in Malé and 4.84 percent in the atolls.
Among all categories, tobacco and areca nuts remained the dominant driver of annual inflation, increasing by a striking 108.2 percent compared to the same month last year. Meanwhile, the information and communication category continued to exert downward pressure, falling by 3.63 percent year-on-year.
Overall, the September data suggests that while inflationary pressures have slightly eased due to falling food prices, high tobacco prices and rising utility costs continue to weigh on household budgets. With electricity and fuel prices climbing and regional disparities widening, price stability remains a key concern for policymakers heading into the final quarter of 2025.
